BlackRock and DWS topped the Q3 inflows charts as demand for equal weight strategies held firm amid markets growing increasingly volatile, while Amundi also topped the charts after a broad sweep of fee cuts in Q2.
According to data from ETFbook, investors piled $138.6bn into European-listed ETFs in the previous quarter, up from $59.1bn in Q2 with Vanguard seeing its strongest monthly inflows in August since it entered the market in 2012.
JP Morgan Asset Management (JPMAM) also enjoyed a record breaking month in August, with the JPM US Research Enhanced Index Equity (ESG) UCITS ETF (JREU) recently becoming the first active ETF in Europe to reach $10bn.
BlackRock amassed $26.2bn inflows over the quarter, the most across all ETF issuers; taking its overall assets under management (AUM) to $964bn.
Notable performers in the US giant’s lineup this quarter included the iShares S&P 500 Equal Weight UCITS ETF (ISPE), which attracted $1.6bn in inflows during Q3. Core exposures also drove asset growth, with the iShares Core MSCI World UCITS ETF (SWDA) seeing inflows surge to $3.3bn in the same period.
Amundi received the second highest inflows in Q2, sparked by the asset manager making headline fee cuts across its largest ETFs in June.
While the Amundi did not feature in the top ten ETF inflows charts for Q3, the French asset manager mostly saw consistent success across a broad range of products, with the Amundi STOXX Europe 600 UCITS ETF (MEUD) pulling in $936m inflows in the quarter.
DWS saw another strong quarter after demand for its equal weight strategies. The Xtrackers S&P 500 Equal Weight UCITS ETF (XDEW) pulling in $2.3bn across the quarter.
A persisting inverted yield curve caused investors to flock to the Xtrackers EUR Overnight Rate Swap UCITS ETF (XEON) as inflows reached $2.2bn in Q3.
Chart 1: Top 10 ETF issuer inflows in Europe in Q3
|
ETF issuer |
Q3 flows (bn, $) |
AUM (bn, $) |
|
BlackRock |
26.2 |
964 |
|
Amundi |
8.6 |
280 |
|
DWS |
8.4 |
240 |
|
Vanguard |
7.6 |
161 |
|
SSGA |
5.5 |
95 |
|
Invesco |
3.3 |
106 |
|
JP Morgan Asset Management |
2.9 |
33 |
|
UBS AM |
1.3 |
123 |
|
Fidelity |
1.1 |
8 |
|
VanEck |
1.1 |
12 |
Source: ETFbook
Meanwhile – after entering the European ETF market in Q2 – Cathie Wood’s ARK Invest suffered a slow start against a poorly timed entry, with disruptive technology seeing outflows for the first time in 2024. As a result, ARK Invest saw $31m outflows across the quarter.
LGIM suffered $393m of outflows across the quarter, after investors continued to pivot away from ESG, with the L&G US ESG Exclusions Paris Aligned UCITS ETF (RIUS) bleeding $123m in Q3.
Wisdom Tree continued its struggle into last quarter after a poor performance in Q2, with the asset manager seeing $654m outflows and a poor performance from its physical platinum, brent crude oil and physical silver exchange traded commodities.